Tuan Sing buys tire firm

Wed, 16 Oct 1996 | Source: REUTERS

SINGAPORE (Reuter): Diversified Tuan Sing Holdings Ltd said yesterday it had bought Singapore Bandag Pte Ltd, a tire retreading company, for S$6.6 million.

Singapore Bandag and its wholly-owned Malaysian subsidiary, Performance Retreads Sdn Bhd, both have a franchise agreement with Bandag Inc in the U.S. for a tire retreading system.

Tuan Sing, which has interests in property development, civil engineering and building construction, said in a statement the acquisition would boost its trading division and complement its tire distribution operations.

Tuan Sing entered the tire market earlier this year when Indonesian tire manufacturer PT Gadjah Tunggal appointed its subsidiary Globaltraco International sole distributor in a number of Southeast Asian countries and parts of West Africa.

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